A budget constraint:
A. shows different bundles of goods that all yield the same total utility.
B. shows different bundles of goods that all cost the same amount.
C. shows different bundles of goods that all maximize an individual's utility.
D. shows how much income is needed to maximize total utility.
B. shows different bundles of goods that all cost the same amount.
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The money supply would tend to rise if:
a. banks decide to keep more excess reserves and people convert more of their demand deposits to currency. b. banks decide to keep more excess reserves and people deposit currency in their demand deposit accounts. c. banks decide to keep fewer excess reserves and people deposit currency in their demand deposit accounts. d. banks decide to keep fewer excess reserves and people convert more of their demand deposits to currency.
What is the primary problem in comparing income inequality in the US with income inequality in other countries?